Best Motorcycle Insurance 2022: The Top Companies Compared

10:23 AM, May 20, 2022
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The best motorcycle insurance provides financial compensation for medical bills, property damage, and lost wages in case of a crash. Most states require riders to have insurance to protect themselves and other riders. Depending on your bike, location, and driving history, rates can vary dramatically depending on your insurance company.

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If you recently purchased a new motorcycle or want to switch companies, learn more about some of the most popular motorcycle insurance companies and their benefits.

Best Motorcycle Insurance Companies: Compare and Select

  • Progressive: Best Motorcycle Insurance for Discounts and Accident Forgiveness 
  • Harley-Davidson: Best Motorcycle Insurance for Inexperienced Riders
  • Foremost: Best Insurance Coverage for Track Riders
  • Markel: Best Coverage for Mechanical Breakdowns
  • Nationwide: Best Coverage for Motorcycle Accidents
  • Safeco: Best Motorcycle Insurance for Budget Coverage

1. Progressive — Best Motorcycle Insurance for Discounts and Accident Forgiveness

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Progressive Motorcycle Insurance Pros:

  • Forgives crash claims of less than $500 
  • Forgives one major crash every four years
  • Specific policies cover carry-on items 
  • Diminishing deductibles on comprehensive and collision policies

Progressive Motorcycle Insurance Cons:

  • Lower-than-average customer satisfaction
  • Long claims processing timeline
  • High rates for inexperienced drivers 

Progressive has one of the best accident forgiveness policies in the industry. It does not penalize policyholders for minor accidents and forgives a significant crash every four years. Accident forgiveness is a significant advantage for riders who are worried about their rates increasing.

Cost of Progressive Motorcycle Policies: 3.5/5

The cost of your policy depends on where you live and the motorcycle you own. While Progressive advertises rates as low as $100 per year, these are not realistic for the average rider who wants more than minimal coverage.

Motorcyclists with a high-end bike or a spotty driving history can expect to pay a few thousand a year for a policy.

Available Discounts on Progressive Motorcycle Policies: 5/5

Progressive policies come with excellent discounts, including responsible drivers, anti lock brakes, new customers, and pay in full concessions. Many policies also come with free accessories coverage and a diminishing deductible.

Progressive Motorcycle Coverage Options: 4/5

Riders can choose from numerous coverage options, from basic liability to comprehensive coverage that covers the total replacement value of your motorcycle. Limits and coverage levels vary depending on multiple factors, but some plans offer more than $1 million in coverage

Progressive Motorcycle Insurance Claims Process: 3.5/5

Progressive states that it resolves most claims within 14 days, but actual processing times can vary depending on the value of your bike and the cost of the repair. Some customers report their claims taking a month or longer to process.

Overall Score for Progressive Motorcycle Insurance: 4.5/5

 Get a free Progressive quote now!

2. Harley-Davidson — Best Motorcycle Insurance for Inexperienced Riders


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Harley-Davidson Motorcycle Insurance Pros:

 

  • Covers an extensive list of motorcycle types
  • Offers a range of discounts to new and returning customers
  • Provides extended service plans and financing options

Harley-Davidson Motorcycle Insurance Cons:

  • Coverage is unavailable to riders in Alaska and Hawaii  
  • Rates are more expensive compared to other insurance companies
  • No option to bundle motorcycle insurance with auto coverage 

Unlike other insurance companies, Harley-Davidson focuses solely on motorcycle insurance. It also offers maintenance plans, loans, and parts for motorcycles. Harley-Davidson’s insurance options and financial products are extensive, making it an excellent choice for first-time motorcycle owners.

Cost of Harley-Davidson Motorcycle Policies: 4/5

Harley Davidson rates are pricier than some other companies, but most of its policy options are similar to other competitors. On average, its prices for basic liability coverage are on par with other companies, while more comprehensive options are more expensive. You can take advantage of discounts to keep your rates as low as possible.

Available Discounts on Progressive Motorcycle Policies: 4.8/5

Harley offers numerous discounts to keep insurance rates low. It offers concessions for law enforcement, military members, and experienced motorcycle riders. You can also get a deal if you complete the company’s driver safety course. Additional savings are offered for new riders and those who own a home.

Harley-Davidson Motorcycle Coverage Options: 5/5

Harley-Davidson provides coverage for more types of motorcycles than any other company. Policies range from basic liability to full replacement coverage. It offers an array of add-on insurance options, including roadside assistance, medical coverage, and equipment replacement.

Harley-Davidson Motorcycle Insurance Claims Process: 4/5

The average claim is processed in about 14 days, but more complex claims may take weeks or even months to complete. The good news is that Harley-Davidson offers a claims assistance portal that can be accessed around the clock.

Overall Score of Harley-Davidson Motorcycle Insurance: 4.4/5

 Find out how to get a free Harley-Davidson quote.

3. Foremost — Best Insurance Coverage for Track Riders

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Foremost Motorcycle Insurance Pros:

  • Track day coverage and replacement cost protection
  • Accident forgiveness for the first incident with all plans
  • Coverage for legal ATVs and trailers

Foremost Motorcycle Insurance Cons:

  • Policies cannot be purchased online
  • Cumbersome claims process 
  • Elite plan is more expensive than other full-coverage policies 

Foremost is the best motorcycle insurance option for track riders. Because they are considered high-risk clients, many insurance companies will not offer track motorcyclists coverage. Foremost offers three coverage levels, and each plan can be customized to meet your needs. Track-day coverage pays for replacement in case of a collision while you are on the racetrack.

Cost of Foremost Motorcycle Policies: 4/5

Many factors influence how much you will pay. Foremost considers your driving history, geographic location, demographics, and bike when providing rates. The good news is that the insurer offers a range of discounts to keep rates affordable for most customers.

Available Discounts on Foremost Motorcycle Policies: 4/5

Foremost offers discounts to those who insure multiple bikes, complete driver safety courses and equip their bikes with anti-lock brakes. Additional discounts are available for loyal customers and those who are members of AARP.

While Foremost does not offer as many discounts as Progressive and Harley-Davidson, many policies still come with many opportunities to save money.

Foremost Motorcycle Coverage Options: 4/5

Foremost offers three motorcycle insurance packages: Saver, Plus, and Elite. Each package can be customized to meet your individual needs. All plans come with first-accident forgiveness, and the Plus and Elite packages include track-day coverage, roadside assistance, and replacement cost coverage.

The Elite plan is the most expensive option but comes with a diminishing deductible and bike rental benefits. This plan also covers vintage and custom motorcycles.

Foremost Motorcycle Insurance Claims Process: 4/5

Foremost customer service agents are available around-the-clock to take claims and answer questions on pending cases. While more complex claims may take several weeks to resolve, the 24/7 availability of agents will streamline the process.

Overall Score of Foremost Motorcycle Insurance: 4/5

 See what Foremost can do for you!

4. Markel — Best Coverage for Mechanical Breakdowns

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Markel Motorcycle Insurance Pros: 

  • Can add accident forgiveness feature for your first at-fault incident
  • All comprehensive and collision plans include accessories coverage
  • Add-on insurance options for trailers and medical payments 

<<Markel Motorcycle Insurance Cons:

  • Coverage not available in all U.S. states
  • Motorcycle insurance cannot be bundled with auto policies
  • More limited discounts than other providers 

Markel is a solid option for those looking for affordable, comprehensive motorcycle insurance. It offers all of the traditional coverage options and some unique extras. These add-on features include agreed-value settlements for custom motorcycles and coverage for mechanical breakdown issues.

Cost of Markel Motorcycle Policies: 4.5/5

The average Market policy costs $700 per year for basic liability coverage, which is about 10% cheaper than the average policy cost. Keep in mind that insurance is only offered in nine states and costs vary depending on where you live.

Available Discounts on Markel Motorcycle Policies: 3.5/5

While Markel does not offer as many discounts as Progressive, it still gives concessions to keep rates low for various riders. Depending on your location, the following discounts may be available:

  • Transfer discount
  • Accident forgiveness program
  • Multi-motorcycle discount
  • Renewal discount
  • Multi-bike discount
  • Safe driver discount
  • Safety course discount

Markel does not allow clients to save by bundling their motorcycle insurance with their auto policies. The company does not offer insurance for cars or trucks as a specialty provider.

Markel Motorcycle Coverage Options: 4.9/5

Markel is an excellent option if you are looking for unique coverage options. It is the best motorcycle insurance company for mechanical breakdown issues and the only company to offer coverage for failing parts, even if it is caused by an accident.

Furthermore, it is among the few companies that offer a decreasing deductible and accident forgiveness. Other add-on options include accessories coverage, roadside assistance, rental reimbursement, and motorcycle trailer protection.

Markel Motorcycle Insurance Claims Process: 3/5

While Markel offers lower rates than other companies, it has lower-than-average customer satisfaction regarding the claims process. Some customers report multiple denials, and others are not happy with the level of customer service provided.

Overall Score of Markel Motorcycle Insurance: 4/5

 Check out your Markel options.

5. Nationwide — Best Coverage for Motorcycle Accidents

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Nationwide Motorcycle Insurance Pros:

  • Vanishing deductible feature with comprehensive and collision policies
  • Original parts coverage for many manufacturers
  • Coverage options for vintage and custom bikes 
  • Multiple-bikes policies

Nationwide Motorcycle Insurance Cons:

  • Not as many discounts as other national insurance companies
  • Below-average customer service ratings
  • Original manufacturer parts not available for all bikes 

Nationwide is a good choice for riders looking for affordable coverage and policy choices for vintage or customer bikes. It is considered one of the best motorcycle insurance companies because it allows users to add up to 12 custom bikes to a single policy.

Cost of Nationwide Motorcycle Insurance Policies: 4.5/5

Nationwide offers some of the lowest rates in the insurance industry. While low-cost coverage typically comes with only basic liability, it is enough to meet the minimum requirements of most states.

Available Discounts on Nationwide Motorcycle Insurance Policies: 4/5

Because its rates are already low, Nationwide does not offer as many discounts as some other national companies. However, it does allow customers to save by bundling motorcycle coverage with home or auto insurance. Other discounts are available to customers who pay their rates in full and add multiple vehicles to the same policy.

The collision and comprehensive policies come with a vanishing deductible. Your deductible will go down by $100 every year you do not have an accident, for a total maximum discount of $500.

Nationwide Motorcycle Coverage Options: 5/5

Nationwide is one of the only companies to offer up to $500,00 per person in uninsured motorist and bodily injury liability coverage. Other options include medical payments, collision, and comprehensive coverage. Policies can be purchased for standard motorcycles, sportbikes, dirt bikes, and scooters. This insurer covers more types of motorcycles than other comparable companies.

Nationwide Motorcycle Insurance Claims Process: 3/5

Though it is one of the most well-known companies in the country, Nationwide has somewhat poor customer service ratings. The company has a below-average rating with the Better Business Bureau, and many clients complain about the cumbersome, long claims process. The company was rated a bit above the industry average by J.D. Power in its 2020 Auto Claims Satisfaction Study.

Overall Score for Nationwide Motorcycle Insurance: 3.9/5

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6. Safeco — Best Motorcycle Insurance for Budget Coverage 

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Safeco Motorcycle Insurance Pros:

  • Provides coverage for homemade and kit bikes
  • Offers discounts for experienced riders
  • Offers a Harley Davidson full-cost replacement provision

Safeco Motorcycle Insurance Cons:

  • Does not offer as many discounts as other companies
  • No coverage for race bikes
  • Quotes need to be obtained through a local agent

Safeco is owned by Liberty Mutual and offers standard coverage for many different types of motorcycle models. It is also one of the few companies to offer coverage for some homemade and kit bikes. All comprehensive and collision policies also come with around-the-clock roadside assistance.

Cost of Safeco Motorcycle Policies: 5/5

Safeco offers many affordable policy options for motorcycle riders. The lowest-priced policies only come with minimal coverage but are a good option for those with standard bikes with few upgrades. It is a great option for first-time riders or those with standard bikes that do not cost much to repair.

Available Discounts on Safeco Motorcycle Policies: 3/5

Safeco offers affordable coverage, but it does not provide many discounts to lower rates even further. The company only offers quotes and discounts from licensed agents. It is best to call a representative to find discounts available in your area.

Safeco Motorcycle Coverage Options: 4/5

Safeco’s coverage options are limited compared to providers such as Progressive and Harley Davidson, but it does offer free original manufacturer parts replacement with the highest-tier plans.

Other coverage options include property damage and bodily injury liability, collision, comprehensive medical payments, personal injury protection, guest passenger liability coverage, and uninsured motorist coverage.

Your rates depend on the level of coverage you obtain. Adding supplemental insurance to your policy will raise your rates, while having a high deductible will lower them.

Safeco Motorcycle Insurance Claims Process: 4.5/5

Safeco has fairly good customer service ratings. It relies on a network of local agents, and many of them develop personal relationships with customers. These agents can help facilitate the claims process, and denial rates are about average.

The company also offers an around-the-clock claims center so you can check on your status whenever you want.

Overall Score of Safeco Motorcycle Insurance: 3.8/5

Choose the right motorcycle policy for you.

How We Selected the Best Motorcycle Insurance Companies

We considered a number of things when cataloging the best motorcycle insurance companies. We evaluated the following features of each company when making the top picks:

  • Cost: We considered the average price for minimum and comprehensive policies.
  • Coverage options: We researched the company’s coverage options and noted any unique choices.
  • Customer service: We reviewed average customer service ratings from the BBB and J.D. Power’s Satisfaction Study.  

We used these factors to examine popular companies and choose the best companies in terms of coverage and cost.

Best Motorcycle Insurance Buying Guide

These FAQs can help you get a deeper understanding of motorcycle insurance to make the best choice. It is important to do your research and learn as much as possible before purchasing a policy.

How Much Is Motorcycle Insurance?

Many online sources claim that the average annual motorcycle insurance rate in the U.S. is under $250, while others claim it is more than $700. Rates depend on various factors, including the level of coverage you choose, your driving history, the value of your motorcycle, and your location.

General liability policies that provide minimum coverage are the most affordable option. Comprehensive or collision policies with specialty add-ons offer more protection in case of an accident, but the monthly rates are pricier.

Is Motorcycle Insurance More Affordable Than Auto Insurance?

Typically, motorcycle insurance is cheaper than auto insurance. However, keep in mind that your actual rates depend on your level of coverage, location, experience level, and driving history.

Selecting an insurance company that offers discounts is best to keep your rates affordable. To save money, you can also consider bundling your home or auto insurance with your motorcycle policy.

Who Has the Best Motorcycle Insurance?

Buying insurance is a personal decision, and many drivers have different needs for motorcycle coverage. The best insurance depends on your budget, the value of your bike, and the amount of coverage and add-ons you need.

For example, you should carefully consider the value and model of your bike. Not all companies cover custom or vintage bikes, while others may not meet your state’s minimum requirements. If you have a custom bike, look for a company that lets you personalize your coverage to include certain features.

Most experts recommend getting quotes from at least three insurance companies before choosing a policy. Request a few quotes, review the coverage levels, and do your homework so you can find the most protection for the best price.

How Does Motorcycle Insurance Work?

Motorcycle insurance is similar to auto insurance. It protects you financially against liability if you are involved in a collision with another vehicle or a pedestrian. Some policies provide coverage for events such as theft, vandalism, falling objects, or inclement weather. You can also purchase insurance if you want protection from uninsured or underinsured drivers.

You must pay a deductible for collision or comprehensive coverage before your insurance covers any costs. For instance, many motorcycle policies come with a $500 deductible. If it costs $1000 to repair your motorcycle, you will need to pay $500 before your insurance company pays the other half.

Policies with lower deductibles often have higher monthly rates than those with higher deductible requirements.

What About Minimum State Insurance Requirements?

Motorcycle insurance is required in 49 of the 50 U.S. states. All states except Florida require you to provide proof of insurance before registering your bike or getting a license plate. You can face hefty fines if you are found driving without insurance and face high out-of-pocket costs if you are involved in a collision.

Every state sets its own requirements when it comes to coverage levels. Most states require bodily injury and property damage liability, but the coverage amounts vary by state.

In most states, drivers need to carry at least $25,000 in bodily injury coverage per passenger. Most states also require $50,000 per accident and $10,000 in property damage liability.

You must check to ensure your insurance company meets your state’s minimum requirements. Most companies allow you to select your state of residence to receive a customized quote that meets your state’s regulations.

How Do I Choose the Best Motorcycle Insurance?

Purchasing insurance is not the most straightforward process, so it can be helpful to get a referral from friends or family. You should get quotes from at least three motorcycle insurance companies before purchasing a policy.

Review the coverage levels offered by each company and consider which add-on options you may need. Go over your bike’s specifications and think about whether you need specialty insurance.

As well as costs, take into account the customer service and ease of the claims process so you know you can rely on the insurer you choose. The best motorcycle insurance companies provide excellent customer service and are willing to go the extra mile to protect customers.

Top 5 Best Motorcycle Insurance Companies Comparison Summary

Progressive

  • Accident forgiveness?: Yes, depending on location and policy
  • Coverage options: Bodily injury, property damage, medical payments, collision, comprehensive
  • Discounts?: Yes
  • Auto insurance bundles?: Yes

Harley-Davidson

  • Accident forgiveness?: Yes, depending on coverage level
  • Coverage options: Bodily injury, property damage, medical payments, collision, comprehensive
  • Discounts?: Yes
  • Auto insurance bundles?: No

Foremost

  • Accident forgiveness?: Yes, for your first accident
  • Coverage options: Bodily injury, property damage, medical payments, collision, comprehensive, track day coverage, and replacement cost protection
  • Discounts?: Yes
  • Auto insurance bundles?: No

Markel

  • Accident forgiveness?: Yes, depending on location and policy limits
  • Coverage options: Bodily injury, property damage, medical payments, collision, comprehensive
  • Discounts?: Yes
  • Auto insurance bundles?: No

Nationwide

  • Accident forgiveness?: Yes, for your first accident
  • Coverage options: Bodily injury, property damage, medical payments, collision, comprehensive
  • Discounts?: Yes
  • Auto insurance bundles?: No

Safeco

  • Accident forgiveness?: Yes, in certain circumstances
  • Coverage options: Bodily injury, property damage, medical payments, collision, comprehensive
  • Discounts?: Yes
  • Auto insurance bundles?: Yes

Final Thoughts About Choosing the Best Motorcycle Insurance 

Motorcycle accidents are common, and custom bikes can be costly to fix. All riders should purchase an insurance policy that meets their needs and provides them with peace of mind.

Choosing an insurance company is a big decision, and you should do as much research as possible before deciding. Carefully consider the company’s coverage options and customer satisfaction ratings.

Obtain at least three quotes from different insurance companies before making a choice. Set up appointments with local insurance agents and ask about local discounts. With our guide, you have a good start on finding the best motorcycle insurance for you.

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